'We will play a key role in football's future' - football oversight chief the regulator's chair
The team's persistent issues constitute a "major concern" and the independent regulator is aiming to acquire authority to examine team situations in such situations, its new chair David Kogan has stated.
During an extensive discussion, Kogan, who was appointed on Monday, showed understanding towards Wednesday's fanbase.
Kogan met with four fan organizations representing the South Yorkshire club this week.
The football club have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on five separate occasions, including in the autumn.
"Obviously the club has become a major concern for the league and a significant problem for football," the regulator explained.
"Sheffield Wednesday is one of the great brands for the English game and recently we have met fan representatives.
"We're now looking to get powers... which will allow us to have the club and similar situations submitted for our review if they warrant scrutiny and dealt with."
Monetary Issues and Leadership Concerns
Wednesday's embattled owner the Thai businessman indicated in the summer he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with prospective buyers.
Failure to pay player wages on time in March and May led to sanctions by the league officials in summer, stopping Wednesday from completing any transfers or loans for the following recruitment periods, although the ban was rescinded in the end of the transfer window.
Authority's Position
The chairman stated: "The position was created for the supporters of Wednesday, teams facing challenges where fans are dedicated to a regional establishment that has existed throughout their lifetimes in many cases.
"I completely understand Sheffield Wednesday, as I do for every team that since 1992 have gone to the wall, or approached financial ruin, for causes separate from the supporters."
Questioned about whether the oversight body could require an chairman to relinquish a club if they are judged inappropriate, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we assemble the facts and comprehend the circumstances, we will."
But Kogan stressed that requiring chairmen to relinquish clubs would be treated as a "last resort" and the regulator would prefer to cooperate with proprietors.
"The last thing what we want to do is commence engagement with an individual club, an individual owner, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the proprietor's dealing with," Kogan said.
"But the truth is, when you review the record of the sport, over the past few decades there have been some owners, few in number, but certain individuals who have acted carelessly in the way which they've been managing their teams and eventually decline to assume obligation for the future."
Sheffield Wednesday supporters have been demonstrating against the team's chairman in recent months
'Mistakes could erase significant advances'
The chairman convened with representatives from 110 clubs to detail the scope of the oversight body this week and insisted it was a "proactive meeting" with a "high level of engagement" from the grassroots to elite level.
"It's a job that's actually really important, because if errors are made, if the world of football gets it wrong, the remarkable development accomplished necessary will vanish incredibly quickly," the chairman stated.
"This represents everyone's worst fear in the context of the English game is a major achievement - we've got to keep it going.
"Considerable investment coming into football and has been channeled for the past two decades, because certainty is lacking it will continue to come into football, which is among the factors explaining I think we have to take a really clear view on risk and of course, of the immediate future."
Top Flight Apprehensions
The Premier League opposed the formation of an authority because of concerns about detrimental effects on the Premier League's sporting equality, but the regulator stated: "I'm absolutely committed to the prosperity and expansion as an commercial operation of the Premier League.
"Being fully aware of the apprehension regarding damaging the top flight as an elite competition of this country. But concurrently, if you consult with top flight officials after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a significant confidence."
Ideological Links
The chairman continues to confront a "full inquiry" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in recent years.
The official donated money to Culture Secretary the politician's campaign, along with that of the current Prime Minister.
"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the chairman stated.
"I am presently disconnected from any form of political activity."
